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Finmarc Management Inc Acquires Industrial Property In Gaithersburg For $4.95M

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SOLD
$4,950,000

Maryland

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Industrial46,600 SF
Sold 10/10/2016
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SOLD

Finmarc Management Inc Acquires Industrial Property In Gaithersburg For $4.95M

7419 Lindbergh Dr, Gaithersburg, MD...

See Similar Deals
Industrial46,600 SF
Sold 10/10/2016
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Summary

MARYLAND
Asset Type:Industrial
Price Per Square Foot:$106
Total Square Footage:46,600 SF
Transaction Type:Sale

The property involved in the transaction is a 46,600-square-foot flex/warehouse building located at 7419-7431 Lindbergh Drive in Gaithersburg, Md. Situated on 4.7 acres of land, the property was acquired by Finmarc Management Inc. for $4.95 million from 7419 Lindberg Drive LLC. At the time of the deal, the property was 90 percent occupied.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $4,950,000.00
  • Address: 7419 Lindbergh Dr, Gaithersburg, MD
  • Market: Gaithersburg
  • Buyer's Representative: Sandy Hunt (Scheer Partners)
  • Buyer: Finmarc Management Inc
  • Seller: 7419 Lindberg Drive LLC
  • Square Footage: 46,600

Finmarc Management Inc., based in Bethesda, Md., finalized the acquisition of the industrial property. The buyer was represented by Sandy Hunt from Scheer Partners in the transaction. The seller, 7419 Lindberg Drive LLC, completed the sale of the property, showing confidence in the deal's potential. The successful acquisition of this prime industrial asset highlights the strategic investment decisions made by Finmarc Management Inc., indicating a positive move in their commercial real estate portfolio.

Players

Sandy Hunt
1 deal$5M volume(301) 337-4700
BROKER

BUYER

Details

SOLD
IMAGE: 10/10/2016 ADDRESS: 7419 Lindbergh Dr, Gaithersburg, MD... MARKET: Gaithersburg ASSET TYPE: Industrial BUYER'S REP: Sandy Hunt(Scheer Partners) BUYER: Finmarc Management Inc SELLER: 7419 Lindberg Drive LLC PRICE: $4,950,000.00 SF: 46600

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$264,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,586.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,465.53
Annual Debt Service$281,586.30